Diamond Traders To Equity Traders

Diamond dealers in India have begun trading in equities to diversify their income stream in a bid to offset the current crisis in the diamond sector. Exports of cut/polished diamonds to the US and other markets are down + the current global credit crunch has also made it difficult for them to access credit facilities via banks to carry out their business activities. Industry analysts believe global demand for rough diamonds is expected to drop by some 60% this year as the global recession hits demand for luxury goods.